Gas Production & Supplies Announces Results for Three Months

Source: www.gulfoilandgas.com 4/1/2022, Location: Asia

According to preliminary data, Gazprom produced 135 billion cubic meters of gas in January-March 2022. This is commensurate with the amount produced in the same period of last year.

The Company's domestic supplies from the gas transmission system dropped by 4.3 per cent (or by 4.2 billion cubic meters) over said period of 2022 due to, in particular, warm weather observed in February. Gas supplies in March were around the level of the same month last year.

Gas exports to the countries beyond the FSU amounted to 38.5 billion cubic meters, which is 27.1 per cent (or 14.3 billion cubic meters) lower than the figure for the same period of 2021. Gazprom continues to deliver gas as requested by consumers in full compliance with contractual obligations. Compared to last year, this March saw increases in exports to nine European countries, including Italy, Poland, Greece, Bulgaria, Croatia, and Turkey.

Gas supplies to China via the Power of Siberia pipeline keep growing within the framework of the long-term bilateral contract between Gazprom and CNPC.

According to Gas Infrastructure Europe, the aggregate reserves of Europe's underground gas storage facilities were down to 26 per cent as of March 30. Replenishing gas reserves in Europe's facilities by the next winter is a major challenge in view of, inter alia, the daily limits placed on injection rates due to the technological capabilities of UGS facilities. Moreover, the overall amount of gas available in the European market is highly dependent on demand in the growing Asian market.


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